Types of Super Funds: RSE, PST, ADF, ERF, SAF & SMSF

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Below is a summary of the different types of super funds, and there acronyms.

Registrable Superannuation Entities (RSE)

Registrable Superannuation Entities (RSEs) include:

  • APRA regulated super funds
  • Multi-member ADFs
  • Pooled Superannuation Trusts
  • Eligible Rollover Funds

But RSEs do not include:

  • SMSFs
  • Public-sector superannuation schemes

APRA maintains a list of RSEs.

Pooled Superannuation Trusts (PST)

A Pooled Superannuation Trust (PST) is a unit trust regulated by APRA. A PST can only accept investment from complying super funds, ADFs, other PSTs and some other types of entities

APRA maintains a list of PSTs.

Approved Deposit Fund (ADF)

Approved Deposit Funds (ADF) are funds regulated by APRA which can receive Eligible Termination Payments (ETP) from employers, superannuation funds or another ADF.

Eligible Rollover Fund (ERF)

Eligible Rollover Funds (ERF) include super funds or ADFs which are allowed to receive rollovers from other funds, such as lost member benefits.

Small APRA Funds (SAF)

Small APRA Funds (SAFs) are APRA-regulated funds with 4 or fewer members and the trustee of which must be licensed.

ATO Regulated Self-Managed Super Fund (SMSF)

SMSFs are super funds regulated by the ATO which meet the requirements of an SMSF under the SIS Act, such as having 4 or fewer members.

Public Offer APRA Funds

APRA funds are funds open to the public which are regulated by APRA.

Exempt Public Sector Superannuation Scheme

Exempt Public Sector Superannuation Schemes are superannuation funds which are not regulated by APRA or the ATO but instead supervised by state or federal government.

Non-Regulated Super Fund

Non-Regulated Super Funds would include funds which have not chosen to be regulated by either APRA or the ATO and so does not meet the requirements of SISA s19.

Breakdown of Super Fund Types

Despite all these different types of super funds only two types dominate the market – large APRA funds and SMSFs:

Types of Super Funds: APRA, SMSF, SAF, PST, ERF, RSE

Based on statistics published by APRA.

 

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